4143 Yosemite Blvd Unit A8

Empire, CA 95357

$38,000B

1 bd · 1.0 ba · 620 sqft · Built 1966 · Manufactured · Pending · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,495/mo
• Mortgage (P&I): −$199
• Tax + insurance: −$63
• HOA: −$0
• Vac / Maint / Mgmt: −$314
• Net cashflow: $918/mo
• Annual: $11,021/yr
• Cap rate: 35.30%
• Cash-on-cash: 103.58%
• DSCR: 5.61
• 1% rule: 3.93%
• Cash to close: $10,640

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $38k.
• At list price, monthly cash flow is $918 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• It's been on market 157 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 52/100 on livability (#1,013 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: cost of living C-, amenities F, commute F.
• Empire Union Elementary (suburban): math 25% / reading 25% proficiency, ranked #398 of 517 in CA (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Alice N. Stroud Elementary (433 students, 72% FRL); Norman N. Glick Middle (624 students, 79% FRL).
• Market conditions: 93 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 923 units permitted in Stanislaus County in 2024 (63 in 5+ unit buildings).
• Stanislaus County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.